On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
On August 31, 2021, Offchain Labs announced the official launch of Arbitrum One mainnet and further detailed that the company has raised $120 million in funding. The Series B financing led by Lightspeed Venture Partners gives the firm a $1.2 billion valuation.
Arbitrum One Mainnet Is Now Live, Offchain Labs Raises $120 Million in Funding
The highly anticipated Arbitrum One mainnet launch has been revealed by the firm Offchain Labs and the startup also detailed the company has raised $120 million in financing. Bitcoin.com News has written about the Arbitrum One Layer-2 scaling solution on a few occasions as the protocol leverages Optimistic rollups to help Ethereum scale. A number of popular decentralized finance (defi) projects are leveraging Arbitrum’s gateway in order to give users better fee rates and faster actions.
Arbitrum’s technology is leveraged by defi projects like Aave, Balancer, Band Protocol, Coinbase Wallet, Chainlink, Curve, DAI stablecoins, Etherscan, Dodo, Metamask, Shapeshift, Sushiswap, Uniswap, and many more. In addition to the launch, Offchain Labs revealed the startup raised $120 million in funding led by Lightspeed Venture Partners. Other Offchain Labs investors included the Shark Tank television host and billionaire Mark Cuban, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, and Alameda Research.
Over 400 Projects Leverage Arbitrum’s Technology, Synfutures Implements Arbitrum
Bitcoin.com News also reported on how the popular online forum website Reddit is using Arbitrum’s technology with its Ethereum-based community points system. “[Offchain Labs’] dedication to the Ethereum developer community is second to none and they have the best, easiest-to-use scalability product. That’s why over 400 projects have chosen to launch with Arbitrum, including Reddit,” Amy Wu, a partner at Lightspeed said in a statement.
Moreover, a few other projects added Arbitrum One support to line up with the mainnet launch. Decentralized derivatives exchange Synfutures revealed on Wednesday that the project was “now deployed on Arbitrum One.” “As we support the variety of investors entering the decentralized derivatives space, we want to be where they are. In a short time, Arbitrum has established itself as one of the most promising chains in the space, so the integration was a natural fit for us,” Rachel Lin, the founder and CEO at Synfutures detailed.
What do you think about the Arbitrum One mainnet launch and Offchain Labs raising $120 million? Let us know what you think about this subject in the comments section below.
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